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Netflix is considering cracking down on password sharing with a new test.
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First discovered by MyWire, some users encountered an investigation when they logged in asking for verification that they owned a Netflix account. A warning message reads: “If you do not stay with the owner of this account, you need your own account to keep watching.”
A Netflix spokesperson confirmed the test to Fox Business, noting that it was “designed to help ensure that people using Netflix accounts are authorized to do so.”
This is also designed to ensure that revenue is lost as streaming space grows increasingly competitive. Password piracy and sharing costs streaming providers alone are worth 9. 9.1 billion in 2019, according to an analysis by research firm Parks Associates. The estimates put the figure at 12 12.5 billion by 2024.
Netflix will give users the option to verify their account via a text message or code sent via email. In addition, they will be given the option to “verify later”. If the user is unable to verify account ownership within a certain period of time, they will be asked to create a new account.
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Netflix’s Terms of Service state that the streaming content on the platform is “for your personal and non-commercial use only and cannot be shared with people outside your home.”
The company charges users 99 8.99-17.99 per month depending on the plan. Netflix’s basic plan allows users to stream on one screen at a time, while its standard plan and premium plan allow users to stream on two screens and four screens at the same time.
| Ticker | Security | The last | Change | Change% |
|---|---|---|---|---|
| NFLX | Netflix, Inc. | 523.06 | +18.52 | + 3.67% |
| AAPL | Apple, INC. | 121.96 | +1.98 | + 1.65% |
| DIS | Walt Disney CO. | 196.66 | +1.70 | + 0.87% |
| VIAC | VIACOMCBS, INC. | 86.28 | +3.39 | + 4.09% |
| T. | AT&T, INC. | 29.52 | -0.48 | -1.60% |
| DASCA | Discovery, INC. | Is 66.97 | +1.15 | + 1.75% |
The move comes as the streaming giant has become more popular than ever, surpassing 200 million subscribers.
Reed Hastings, CEO of Netwlix, admitted during a call with analysts in 2016 that the streaming service had previously looked the other way when it came to password sharing, that is, “something you learn to live with.”
“There’s a lot of legitimate password sharing, like you share with your spouse, with your kids, so there’s no bright line, and we’re doing great accordingly,” Hastings said.
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But since those comments four years ago, Netflix has found more and more competition for viewers and dollars. In the last 24 months, TV Paltiv +, Disney +, Discovery + and HBOmax have all launched as pay streaming services. Just this week CBS became All Access Access Paramount + and in one turn actually reduced its monthly price by $ 1 with a name change.
In 2019, Netflix’s chief product officer Fischer Gregory Peters told analysts during a earnings call that the company was focusing on preventing password sharing, but the platform was still looking for ways to enforce it.
